Bill Text: NJ S3049 | 2018-2019 | Regular Session | Introduced
Bill Title: Appropriates $28,883,557 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced - Dead) 2018-12-17 - Substituted by A4579 [S3049 Detail]
Download: New_Jersey-2018-S3049-Introduced.html
Sponsored by:
Senator STEPHEN M. SWEENEY
District 3 (Cumberland, Gloucester and Salem)
SYNOPSIS
Appropriates $28,883,557 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects.
CURRENT VERSION OF TEXT
As introduced.
An Act appropriating $17,331,237 from the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, and $11,552,320 from the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, to provide loans for dam restoration and repair projects and inland waters projects.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. There is appropriated to the Department of Environmental Protection from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162, the sum of $17,331,237, made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to owners of private dams, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects undertaken by, or on behalf of, the owners of dams. This sum shall include administrative costs and shall be allocated as follows:
|
Dam Name |
Applicant |
Loan Amount |
|
Valhalla Lake Dam |
Lake Valhalla Club |
$1,840,000 |
|
Lake Tamarack Dam |
Lake Tamarack Association |
$500,000 |
|
Sunset Lake Dam |
Borough of Mountain Lakes |
$2,100,000 |
|
Iona Lake Dam |
Township of Franklin (Gloucester) |
$4,460,000 |
|
Rock Island Lake Dam |
Rock Island Lake Owners Assoc. |
$600,000 |
|
Upper Crest Lake Dam |
Farm Crest Acres Association, Inc. |
$600,000 |
|
Lake Plymouth Dam |
Lake Plymouth Community Assoc. |
$600,000 |
|
Lower Twin Lake Dam |
Pompton Lakes Borough MUA |
$950,000 |
|
Union Mill Dam |
Township of Evesham |
$1,502,560 |
|
Woolman Lake Dam |
Township of Mount Holly |
$207,832 |
|
Lake Reality Dam |
Lake Reality Homeowners Assoc. |
$750,000 |
|
Bubbling Springs Lower Pond Dam |
Township of West Milford |
$460,000 |
|
Lower Crest Lake Dam |
Farm Crest Acres Association, Inc. |
$480,000 |
|
Bamber Lake Dam |
Township of Lacey |
$1,496,500 |
|
Clement Lake Dam |
Borough of Gibbsboro |
$613,345 |
|
Administrative Costs |
|
$171,000 |
b. Any
unexpended funds remaining after completion of the projects listed in
subsection a. of this section shall be returned to the "2003 Dam, Lake and Stream Project Revolving Loan Fund" for re-appropriation to fund additional
projects authorized by law.
c. Any transfer of any funds, or change in project sponsor or project site, listed in subsection a. of this section shall require the approval of the Joint Budget Oversight Committee or its successor.
d. There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2019, due to interest earnings or loan repayments to the "2003 Dam, Lake and Stream Project Revolving Loan Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law.
e. The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.2003, c.162.
2. a. There is appropriated to the Department of Environmental Protection from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88, the sum of $11,552,320 made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments, for the purpose of providing loans to assist local government units, and private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration and inland waters projects. This sum shall include administrative costs and shall be allocated as follows:
|
Project Name |
Applicant |
Loan Amount |
|
Carteret Flood Control |
Borough of Carteret |
$5,498,400 |
|
Shongum Lake Dredging |
Shongum Lake Property Owners |
$5,000,375 |
|
Clement Lake Dredging |
Borough of Gibbsboro |
$939,545 |
|
Administrative Costs |
|
$114,000 |
b. Any unexpended funds remaining after completion of the projects listed in subsection a. of this section shall be returned to the "1992 Dam Restoration and Clean Water Trust Fund" for re-appropriation to fund additional projects authorized by law.
c. Any transfer of any funds, or change in project sponsor or project site, listed in subsection b. of this section shall require the approval of the Joint Budget Oversight Committee or its successor.
d. There is appropriated to the Department of Environmental Protection such sums as may be, or may become, available on or before June 30, 2019, due to interest earnings or loan repayments to the "1992 Dam Restoration and Clean Water Trust Fund," to fund the projects listed in subsection a. of this section, and additional projects authorized by law.
e. The expenditures of sums appropriated by this section are subject to the provisions and conditions set forth in P.L.1992, c.88.
3. This act shall take effect immediately.
STATEMENT
The bill appropriates $28,883,557 in 2003 and 1992 bond act monies for loans for dam restoration and repair projects and inland waters projects, including administrative costs, for 18 projects identified in the bill.
Of this funding: $17,331,237 is from the "2003 Dam, Lake and Stream Project Revolving Loan Fund," established pursuant to section 17 of the "Dam, Lake, Stream, Flood Control, Water Resources, and Wastewater Treatment Project Bond Act of 2003," P.L.2003, c.162; and $11,552,320 is from the "1992 Dam Restoration and Clean Water Trust Fund," established pursuant to section 26 of the "Green Acres, Clean Water, Farmland and Historic Preservation Bond Act of 1992," P.L.1992, c.88. These monies are made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments.
The funds from the 2003 bond act will provide 15 loans to owners of private dams, as co-applicants with local government units, or to local government units that own dams, to finance the costs of dam restoration and repair projects undertaken by, or on behalf of, the owners of dams. The funds from the 1992 bond act will provide three loans to assist local government units, and private lake associations or similar organizations or owners of private dams, as co-applicants with local government units, to meet the costs of dam restoration and inland waters projects.
In addition, the bill appropriates monies that may be, or may become, available on or before June 30, 2019, due to interest earnings or loan repayments to the 2003 and 1992 fund, as appropriate, to fund projects listed in the bill and additional projects authorized by law.
